Articles by Tim Burroughs
Partners Group adds to India direct investment capabilities
Partners Group has appointed Cyrus Driver as a managing director with the brief to strengthen the company’s direct investment activities in India. The move comes as Partners Group seeks to ramp up its direct investment capabilities across the region.
Actis completes full management buyout with $100m deal
The UK government is on course to recoup more than $100 million by exiting its stake in Actis. The private equity firm’s management will buy the government’s 40% holding for GBP8 million ($13 million) in cash and also hand over a portion of the carried...
Carlyle backs China Forestry despite damning report
The Carlyle Group believes troubled portfolio company China Forestry Holdings still holds value despite the firm admitting last week that it was only able to account for 1% of its historical sales. Hong Kong-listed China Forestry has been suspended from...
PE’s positive role in China
Private equity has a far reaching impact in China’s economic, social and environmental spheres, according to Bain & Company’s Michael Thorneman, Weiwen Han and Hao Zhou
NSR to take local food national
South Indian cuisine specialist Vasudev Adiga’s is the first part of New Silk Route’s plan to take on the multinationals by creating a domestic casual dining conglomerate in India
Don’t speak too soon on China buyouts
It has long been accepted that China is not a buyout-friendly market. Sizable assets are either in the hands of entrepreneurs who are unwilling to sell or government-linked entities that are prohibited from doing so. Even if a control transaction is available,...
Navis exits label manufacturer Trimco to Partners Group
Navis Capital Partners has sold its majority stake in Trimco International Holdings to Partners Group. The size of the deal was not disclosed but the combination of exit proceeds and dividends received over a seven-year holding period will leave Navis...
Korean government plans another attempt at Woori sale
The South Korean government will make another attempt to divest its stake in Woori Finance Holding, setting a July 27 deadline for preliminary bids. Prospective buyers must bid for at least 30% of Woori, which means the deal would be worth at least KRW2.9...
AVCJ daily bulletin returns May 2
There will be no AVCJ daily bulletin on Tuesday May 1 due to the Labor Day public holiday in Hong Kong.
Ekuinas completes buyout of Tanjung’s marine vessel assets
Ekuinas, the Malaysian sovereign wealth fund, will buy the 76% of Tanjung Offshore’s marine vessel services arm it doesn’t already own for MYR220 million ($72.5 million) in cash. The asset, Tanjung Kapal Services (TKS), operates 16 offshore vessels...
PEP finally seals $752m Spotless buyout
Australian cleaning and catering contractor Spotless Group has accepted an A$720 million ($752 million) buyout offer from Pacific Equity Partners (PEP). The total consideration of A$2.71 per share is higher than the private equity firm’s original bid...
Korea’s Tstone agrees partnership with Newsweek
South Korea’s Tstone Corp. has entered into a partnership with Newsweek to develop the magazine’s business in Asia. This will involve expanding the existing Asian edition of Newsweek across the digital, broadcast and events space.
OMERS, Japan pension funds target $20b infrastructure vehicle
Ontario Municipal Employees Retirement Scheme (OMERS), one of Canada’s largest pension plans, has announced a first close of $7.5 billion on an infrastructure fund set up with a consortium of Japanese pension funds led by Mitsubishi Corporation. The...
DLA Piper appoints Bob Charlton as head of Asia Pacific
DLA Piper has appointed Bob Charlton as managing director for Asia Pacific. He is replacing Alastair Da Costa, who is returning to the UK after five years heading up the law firm’s business in the region. Charlton will start his new role on May 1 and...
India’s HomeShop18 targets $100m IPO in the US – report
HomeShop18, the online retail arm of Indian media group Network 18, is said to be readying a US IPO that could raise about $100 million. The company raised $26 million from SAIF Partners in two tranches between 2007 and 2008.
VC firms support Japan-US drug development alliance
Drais Pharmaceuticals, a US-based firm backed by InterWest Partners and Sutter Hill Ventures, will form a partnership with Japan’s Astellas Pharma to jointly develop a new line of drugs. Astellas has agreed to transfer assets to Drais-operated Telsar...
Advantage Partners has no plans for new fund – report
Advantage Partners told an investor meeting Wednesday that it has no immediate plans to launch a new fund even though the investment period for its existing vehicle is due to end in the summer.
ADIA hires Axa executive for emerging markets PE
Abu Dhabi Investment Authority (ADIA) has poached Axa Private Equity COO Christophe Florin to head up its emerging markets private equity team. He led Axa’s Asian operations between 2005 and 2008.
VIDEO: Ancora International's Veronica Lukito
Foreign direct investment in Indonesia reached a record $20 billion in 2011 and M&A transactions came in at $9 billion for the 12 months to January 31. The country’s stock market has gained close to 200% since 2009. The influx of capital has yet to...
India’s VRL Logistics gets $33m from New Silk Route
VRL Logistics, a Karnataka-based logistics and transport company, has received an INR1.75 billion ($33 million) capital injection from New Silk Route (NSR). The investment comprises INR1.25 billion in new equity and INR500 million for a stake held by...
KKR, Goldman back Indian logistics provider
Ford Motors sold nearly 100,000 cars in India last year and a further 22,000 units manufactured in the country were exported overseas. Every single component that went into each vehicle was handled by TVS Logistics.
Maui Capital appeals to the masses
Between now and the end of May, around 900 New Zealand investors are expected to sign up as LPs in Maui Capital’s new fund. With commitments ranging from NZ$100,000 ($81,000) to NZ$20 million, they are only expected to account for around two thirds...
China’s Bright Food denies Weetabix acquisition talks
China’s Bright Food Group has denied reports that it is in talks to buy Weetabix from private equity firm Lion Capital. Several media outlets have claimed that negotiations began several weeks ago over a deal that would value the UK-based cereal company...
New Silk Route invests in Vasudev Adiga’s Fast Food
New Silk Route (NSR) has made its second investment in India’s food and beverage sector, picking up a minority stake in Vasudev Adiga’s Fast Food, which runs a chain of south Indian restaurants. The capital comes from a $100 million allocation NSR...